Intuit (NASDAQ:INTU) Trading Down 0.3%

Intuit Inc. (NASDAQ:INTU)’s stock price traded down 0.3% during mid-day trading on Monday . The company traded as low as $602.86 and last traded at $603.09. 208,876 shares changed hands during trading, a decline of 83% from the average session volume of 1,235,025 shares. The stock had previously closed at $605.17.

Analysts Set New Price Targets

Several equities research analysts have weighed in on INTU shares. Stifel Nicolaus increased their price objective on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Evercore ISI lifted their price target on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Oppenheimer raised their target price on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, KeyCorp lifted their target price on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $645.00.

Intuit Stock Up 3.5 %

The stock has a market capitalization of $176.65 billion, a P/E ratio of 64.38, a P/E/G ratio of 3.71 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company’s 50-day moving average price is $641.83 and its 200 day moving average price is $601.63.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 EPS. As a group, equities analysts expect that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s payout ratio is currently 36.73%.

Insider Activity

In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock worth $3,117,156 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Intuit in the fourth quarter worth approximately $2,101,848,000. Wellington Management Group LLP lifted its position in shares of Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares during the period. Lone Pine Capital LLC bought a new position in shares of Intuit during the fourth quarter valued at approximately $467,852,000. Parnassus Investments LLC increased its holdings in Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after buying an additional 727,185 shares during the period. Finally, International Assets Investment Management LLC raised its stake in Intuit by 60,534.9% in the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after buying an additional 472,172 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.